Zega Financial LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Zega Financial LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,904 shares of the financial services provider’s stock after purchasing an additional 908 shares during the period. Zega Financial LLC’s holdings in JPMorgan Chase & Co. were worth $992,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of JPM. Swedbank AB purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $800,130,000. Capital Research Global Investors raised its position in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Wulff Hansen & CO. raised its holdings in JPMorgan Chase & Co. by 19,920.7% in the second quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares in the last quarter. Capital International Investors lifted its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after buying an additional 1,480,379 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $211.09 on Monday. The firm has a 50 day simple moving average of $211.61 and a 200 day simple moving average of $201.81. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The stock has a market cap of $606.18 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the business posted $4.37 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.37%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analysts Set New Price Targets

JPM has been the subject of a number of research reports. Morgan Stanley decreased their target price on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.